A Bitcoin address that had been dormant since 2011 moved all 75 of its $BTC on Thursday, worth about $5 million. CoinDesk reported that the address is defendant No. 3,419 in a major New York lawsuit.
The plaintiff, Noah Doe, along with two Wyoming companies, is asking the court to award them about 3.8 million bitcoins held across 39,069 addresses. Their argument is that, under New York state law, assets that have been untouched for more than five years count as abandoned property. The coins allegedly belonging to Satoshi Nakamoto are also included. The court allowed them to provide notice via tiny transactions. On May 22, this address received 546 sats—worth less than 40 cents—with the memo: COURT-ORDERED LEGAL NOTICE.
The transfer only shows that someone still has the keys, so the coins weren’t lost. But it’s unclear who moved them, or whether the lawsuit prompted the move. Even if the plaintiffs win, they won’t get the private keys, so the coins still can’t be moved.
Source: CoinDesk
#BTC #on-chain
The plaintiff, Noah Doe, along with two Wyoming companies, is asking the court to award them about 3.8 million bitcoins held across 39,069 addresses. Their argument is that, under New York state law, assets that have been untouched for more than five years count as abandoned property. The coins allegedly belonging to Satoshi Nakamoto are also included. The court allowed them to provide notice via tiny transactions. On May 22, this address received 546 sats—worth less than 40 cents—with the memo: COURT-ORDERED LEGAL NOTICE.
The transfer only shows that someone still has the keys, so the coins weren’t lost. But it’s unclear who moved them, or whether the lawsuit prompted the move. Even if the plaintiffs win, they won’t get the private keys, so the coins still can’t be moved.
Source: CoinDesk
#BTC #on-chain